- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| EPS QoQ YoY | 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q3 (20) | 1.30 | -7.14 | 17.12 | 38.71 | 5.45 | 9.97 | 20.14 | 17.57 | 18.89 | 18.41 | -0.54 | -5.78 | 13.89 | -14.68 | -8.13 | 5.84 | -12.57 | 9.77 | 3.28 | -6.02 | 11.95 | 0.23 | 9.52 | 21.05 | 21.21 | 1.05 | -5.31 | 79.17 | -12.14 | -11.5 | 109.59 | 18.43 | 26.45 | -9.59 | -228.49 | -171.92 | 15.47 | 1.44 | -6.53 |
| 24Q2 (19) | 1.40 | 38.61 | 79.49 | 36.71 | 2.2 | 0.91 | 17.13 | 18.3 | 38.82 | 18.51 | -0.22 | 22.83 | 16.28 | 12.35 | 41.07 | 6.68 | 40.34 | 69.54 | 3.49 | 35.8 | 69.42 | 0.21 | 23.53 | 23.53 | 20.99 | -1.73 | 15.01 | 90.11 | -14.43 | 1.9 | 92.54 | 18.36 | 13.69 | 7.46 | -65.8 | -59.89 | 15.25 | -13.11 | -21.19 |
| 24Q1 (18) | 1.01 | 2.02 | 38.36 | 35.92 | -7.57 | 4.36 | 14.48 | -24.78 | 18.69 | 18.55 | 23.58 | 66.97 | 14.49 | 14.18 | 41.5 | 4.76 | 5.78 | 37.97 | 2.57 | 1.18 | 38.92 | 0.17 | -10.53 | 0.0 | 21.36 | 20.41 | 48.54 | 105.30 | 30.58 | -7.61 | 78.18 | -39.19 | -30.27 | 21.82 | 176.36 | 340.0 | 17.55 | 14.33 | -3.89 |
| 23Q4 (17) | 0.99 | -10.81 | -9.17 | 38.86 | 10.4 | 6.93 | 19.25 | 13.64 | 8.39 | 15.01 | -23.18 | 7.99 | 12.69 | -16.07 | -8.57 | 4.50 | -15.41 | -7.6 | 2.54 | -13.31 | -8.3 | 0.19 | 0.0 | 0.0 | 17.74 | -20.8 | 4.23 | 80.64 | -9.86 | -0.48 | 128.57 | 48.35 | 1.97 | -28.57 | -314.29 | -1.1 | 15.35 | -7.25 | -10.86 |
| 23Q3 (16) | 1.11 | 42.31 | -21.83 | 35.20 | -3.24 | 0.54 | 16.94 | 37.28 | 33.28 | 19.54 | 29.66 | -26.95 | 15.12 | 31.02 | -29.15 | 5.32 | 35.03 | -21.19 | 2.93 | 42.23 | -15.8 | 0.19 | 11.76 | 18.75 | 22.40 | 22.74 | -26.49 | 89.46 | 1.16 | 7.84 | 86.67 | 6.48 | 80.56 | 13.33 | -28.33 | -74.36 | 16.55 | -14.47 | -18.67 |
| 23Q2 (15) | 0.78 | 6.85 | -46.94 | 36.38 | 5.69 | 6.87 | 12.34 | 1.15 | -29.69 | 15.07 | 35.64 | -26.27 | 11.54 | 12.7 | -28.05 | 3.94 | 14.2 | -47.4 | 2.06 | 11.35 | -39.59 | 0.17 | 0.0 | -19.05 | 18.25 | 26.91 | -21.27 | 88.43 | -22.41 | -24.17 | 81.40 | -27.4 | -5.24 | 18.60 | 304.65 | 31.92 | 19.35 | 5.97 | 34.66 |
| 23Q1 (14) | 0.73 | -33.03 | -29.81 | 34.42 | -5.28 | 23.72 | 12.20 | -31.31 | 8.54 | 11.11 | -20.07 | -23.9 | 10.24 | -26.22 | -11.42 | 3.45 | -29.16 | -34.91 | 1.85 | -33.21 | -23.55 | 0.17 | -10.53 | -15.0 | 14.38 | -15.51 | -16.83 | 113.97 | 40.65 | -16.2 | 112.12 | -11.08 | 46.83 | -9.09 | 67.83 | -138.46 | 18.26 | 6.04 | 28.86 |
| 22Q4 (13) | 1.09 | -23.24 | -13.49 | 36.34 | 3.8 | 9.26 | 17.76 | 39.73 | 0.57 | 13.90 | -48.04 | -24.04 | 13.88 | -34.96 | -5.0 | 4.87 | -27.85 | -24.26 | 2.77 | -20.4 | -4.81 | 0.19 | 18.75 | 0.0 | 17.02 | -44.14 | -19.98 | 81.03 | -2.33 | -31.46 | 126.09 | 162.68 | 30.03 | -28.26 | -154.35 | -1032.61 | 17.22 | -15.38 | 22.82 |
| 22Q3 (12) | 1.42 | -3.4 | 102.86 | 35.01 | 2.85 | 21.52 | 12.71 | -27.58 | 7.26 | 26.75 | 30.87 | 130.6 | 21.34 | 33.04 | 138.97 | 6.75 | -9.88 | 79.52 | 3.48 | 2.05 | 112.2 | 0.16 | -23.81 | -5.88 | 30.47 | 31.45 | 104.63 | 82.96 | -28.86 | -39.72 | 48.00 | -44.12 | -53.23 | 52.00 | 268.73 | 2076.0 | 20.35 | 41.61 | 31.63 |
| 22Q2 (11) | 1.47 | 41.35 | 206.25 | 34.04 | 22.36 | 29.18 | 17.55 | 56.14 | 212.28 | 20.44 | 40.0 | 334.89 | 16.04 | 38.75 | 130.79 | 7.49 | 41.32 | 196.05 | 3.41 | 40.91 | 158.33 | 0.21 | 5.0 | 16.67 | 23.18 | 34.07 | 178.27 | 116.61 | -14.26 | -22.24 | 85.90 | 12.48 | -24.84 | 14.10 | -40.34 | 165.81 | 14.37 | 1.41 | -19.04 |
| 22Q1 (10) | 1.04 | -17.46 | 333.33 | 27.82 | -16.36 | -1.97 | 11.24 | -36.35 | 109.31 | 14.60 | -20.22 | 165.45 | 11.56 | -20.88 | 166.36 | 5.30 | -17.57 | 334.43 | 2.42 | -16.84 | 191.57 | 0.20 | 5.26 | 11.11 | 17.29 | -18.71 | 79.92 | 136.01 | 15.05 | 138.07 | 76.36 | -21.25 | -17.27 | 23.64 | 680.0 | 0 | 14.17 | 1.07 | -32.65 |
| 21Q4 (9) | 1.26 | 80.0 | 384.62 | 33.26 | 15.45 | 25.46 | 17.66 | 49.03 | 749.04 | 18.30 | 57.76 | 868.25 | 14.61 | 63.61 | 208.88 | 6.43 | 71.01 | 376.3 | 2.91 | 77.44 | 206.32 | 0.19 | 11.76 | 0.0 | 21.27 | 42.85 | 226.23 | 118.22 | -14.1 | 133.18 | 96.97 | -5.52 | -22.42 | 3.03 | 215.15 | 0 | 14.02 | -9.31 | -30.83 |
| 21Q3 (8) | 0.70 | 45.83 | 233.33 | 28.81 | 9.34 | -9.52 | 11.85 | 110.85 | 64.13 | 11.60 | 146.81 | 104.59 | 8.93 | 28.49 | 104.82 | 3.76 | 48.62 | 235.71 | 1.64 | 24.24 | 124.66 | 0.17 | -5.56 | 6.25 | 14.89 | 78.75 | 37.36 | 137.63 | -8.23 | 179.68 | 102.63 | -10.2 | -17.89 | -2.63 | 87.72 | 89.47 | 15.46 | -12.9 | -8.52 |
| 21Q2 (7) | 0.48 | 100.0 | -15.79 | 26.35 | -7.15 | -20.68 | 5.62 | 4.66 | -54.08 | 4.70 | -14.55 | -59.41 | 6.95 | 60.14 | -24.95 | 2.53 | 107.38 | -9.32 | 1.32 | 59.04 | -23.7 | 0.18 | 0.0 | 0.0 | 8.33 | -13.32 | -46.47 | 149.97 | 162.51 | 93.63 | 114.29 | 23.81 | 10.6 | -21.43 | 0 | -221.43 | 17.75 | -15.64 | 0 |
| 21Q1 (6) | 0.24 | -7.69 | -61.29 | 28.38 | 7.05 | -16.01 | 5.37 | 158.17 | -48.22 | 5.50 | 191.01 | -53.78 | 4.34 | -8.25 | -53.83 | 1.22 | -9.63 | -57.04 | 0.83 | -12.63 | -56.08 | 0.18 | -5.26 | -10.0 | 9.61 | 47.39 | -38.98 | 57.13 | 12.68 | 5.13 | 92.31 | -26.15 | 8.79 | 0.00 | 0 | -100.0 | 21.04 | 3.8 | 0 |
| 20Q4 (5) | 0.26 | 23.81 | -77.97 | 26.51 | -16.74 | -25.3 | 2.08 | -71.19 | -87.87 | 1.89 | -66.67 | -88.14 | 4.73 | 8.49 | -64.81 | 1.35 | 20.54 | -76.11 | 0.95 | 30.14 | -73.9 | 0.19 | 18.75 | -29.63 | 6.52 | -39.85 | -66.09 | 50.70 | 3.03 | -7.07 | 125.00 | 0.0 | 16.94 | 0.00 | 100.0 | 100.0 | 20.27 | 19.94 | 30.94 |
| 20Q3 (4) | 0.21 | -63.16 | 0.0 | 31.84 | -4.15 | 0.0 | 7.22 | -41.01 | 0.0 | 5.67 | -51.04 | 0.0 | 4.36 | -52.92 | 0.0 | 1.12 | -59.86 | 0.0 | 0.73 | -57.8 | 0.0 | 0.16 | -11.11 | 0.0 | 10.84 | -30.33 | 0.0 | 49.21 | -36.46 | 0.0 | 125.00 | 20.97 | 0.0 | -25.00 | -275.0 | 0.0 | 16.90 | 0 | 0.0 |
| 20Q2 (3) | 0.57 | -8.06 | 0.0 | 33.22 | -1.69 | 0.0 | 12.24 | 18.03 | 0.0 | 11.58 | -2.69 | 0.0 | 9.26 | -1.49 | 0.0 | 2.79 | -1.76 | 0.0 | 1.73 | -8.47 | 0.0 | 0.18 | -10.0 | 0.0 | 15.56 | -1.21 | 0.0 | 77.45 | 42.53 | 0.0 | 103.33 | 21.79 | 0.0 | -6.67 | -155.0 | 0.0 | 0.00 | 0 | 0.0 |
| 20Q1 (2) | 0.62 | -47.46 | 0.0 | 33.79 | -4.79 | 0.0 | 10.37 | -39.53 | 0.0 | 11.90 | -25.35 | 0.0 | 9.40 | -30.06 | 0.0 | 2.84 | -49.73 | 0.0 | 1.89 | -48.08 | 0.0 | 0.20 | -25.93 | 0.0 | 15.75 | -18.1 | 0.0 | 54.34 | -0.4 | 0.0 | 84.85 | -20.63 | 0.0 | 12.12 | 275.76 | 0.0 | 0.00 | -100.0 | 0.0 |
| 19Q4 (1) | 1.18 | 0.0 | 0.0 | 35.49 | 0.0 | 0.0 | 17.15 | 0.0 | 0.0 | 15.94 | 0.0 | 0.0 | 13.44 | 0.0 | 0.0 | 5.65 | 0.0 | 0.0 | 3.64 | 0.0 | 0.0 | 0.27 | 0.0 | 0.0 | 19.23 | 0.0 | 0.0 | 54.56 | 0.0 | 0.0 | 106.90 | 0.0 | 0.0 | -6.90 | 0.0 | 0.0 | 15.48 | 0.0 | 0.0 |
| EPS YoY | 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 3.61 | -28.09 | 36.27 | 9.64 | 15.32 | 2.96 | 1.89 | 17.24 | 15.21 | -18.01 | 12.43 | -19.13 | 15.94 | -31.41 | 9.22 | -23.68 | 0.71 | -6.58 | 18.21 | -15.34 | 80.64 | -0.48 | 100.54 | 25.8 | -0.54 | 0 | 9.05 | 0.16 | 17.30 | 6.66 |
| 2022 (9) | 5.02 | 87.31 | 33.08 | 12.25 | 14.88 | 36.89 | 1.61 | -30.57 | 18.55 | 71.76 | 15.37 | 65.45 | 23.24 | 71.89 | 12.08 | 58.32 | 0.76 | -3.8 | 21.51 | 51.05 | 81.03 | -31.46 | 79.92 | -20.69 | 19.69 | 0 | 9.03 | 1.45 | 16.22 | -2.47 |
| 2021 (8) | 2.68 | 61.45 | 29.47 | -6.41 | 10.87 | 32.24 | 2.32 | -25.6 | 10.80 | 33.17 | 9.29 | 29.21 | 13.52 | 66.09 | 7.63 | 38.22 | 0.79 | 6.76 | 14.24 | 14.29 | 118.22 | 133.18 | 100.77 | -0.51 | -0.77 | 0 | 8.90 | -32.47 | 16.63 | -11.31 |
| 2020 (7) | 1.66 | -59.9 | 31.49 | -12.65 | 8.22 | -50.57 | 3.12 | 41.58 | 8.11 | -51.67 | 7.19 | -44.9 | 8.14 | -59.92 | 5.52 | -57.41 | 0.74 | -24.49 | 12.46 | -37.32 | 50.70 | -7.07 | 101.28 | 2.21 | -1.28 | 0 | 13.19 | 8.08 | 18.75 | 15.81 |
| 2019 (6) | 4.14 | 51.09 | 36.05 | 8.65 | 16.63 | 46.01 | 2.20 | 127.07 | 16.78 | 38.68 | 13.05 | 33.57 | 20.31 | 36.77 | 12.96 | 53.37 | 0.98 | 22.5 | 19.88 | 34.05 | 54.56 | -16.38 | 99.10 | 4.97 | 0.90 | -83.84 | 12.20 | -7.63 | 16.19 | -10.21 |
| 2018 (5) | 2.74 | 4.18 | 33.18 | 0.12 | 11.39 | -7.1 | 0.97 | -1.74 | 12.10 | 17.48 | 9.77 | 9.65 | 14.85 | -12.18 | 8.45 | 0.48 | 0.80 | -6.98 | 14.83 | 13.03 | 65.25 | -47.43 | 94.40 | -20.83 | 5.60 | 0 | 13.21 | 0 | 18.03 | 0.45 |
| 2017 (4) | 2.63 | 36.27 | 33.14 | 5.47 | 12.26 | 52.87 | 0.99 | -3.13 | 10.30 | 23.65 | 8.91 | 19.6 | 16.91 | 31.09 | 8.41 | 19.63 | 0.86 | 2.38 | 13.12 | 13.69 | 124.12 | 5.59 | 119.23 | 24.27 | -19.23 | 0 | 0.00 | 0 | 17.95 | -5.97 |
| 2016 (3) | 1.93 | -31.32 | 31.42 | -7.62 | 8.02 | -39.43 | 1.02 | -9.16 | 8.33 | -42.15 | 7.45 | -37.66 | 12.90 | -30.91 | 7.03 | -38.98 | 0.84 | -12.5 | 11.54 | -27.05 | 117.55 | 23.72 | 95.95 | 5.0 | 4.05 | -47.75 | 0.00 | 0 | 19.09 | 10.41 |
| 2015 (2) | 2.81 | -15.62 | 34.01 | -0.67 | 13.24 | -9.13 | 1.12 | -6.08 | 14.40 | -11.93 | 11.95 | -11.94 | 18.67 | -21.09 | 11.52 | -36.63 | 0.96 | -28.36 | 15.82 | -11.02 | 95.01 | 222.51 | 91.38 | 2.61 | 7.76 | -29.14 | 0.00 | 0 | 17.29 | 8.2 |
| 2014 (1) | 3.33 | 154.2 | 34.24 | 0 | 14.57 | 0 | 1.19 | -35.08 | 16.35 | 0 | 13.57 | 0 | 23.66 | 0 | 18.18 | 0 | 1.34 | 35.35 | 17.78 | 42.24 | 29.46 | -5.0 | 89.05 | -2.04 | 10.95 | 20.44 | 0.00 | 0 | 15.98 | -18.97 |
